Tag: bitcoin technical analysis

Bitcoin Price Technical Analysis for 11/17/2017 – New Highs Yet Again! No Comments

Bitcoin Price Key Highlights Bitcoin price is at it again, breaking past the latest set of highs to close in on the $8000 handle. Revisiting the Fib extension levels shows how high bitcoin price could go from here. Price is already testing the 50% extension level but technical indicators show strengthening bullish momentum. Bitcoin price is establishing new record highs and the Fibon...


Bitcoin Price Technical Analysis for 11/16/2017 – Bulls Back on their Feet? No Comments

Bitcoin Price Key Highlights Bitcoin price is starting to trend higher once more, depending on whether or not the support on the 1-hour time frame holds. An ascending trend line can be drawn to connect the lows over the past few days and the support lines up with the 38.2% retracement level. A bounce off this level could take bitcoin price to the swing high or higher, but tech indicator...


Bitcoin Price Technical Analysis for 11/15/2017 – New Record Highs in Sight? No Comments

Bitcoin Price Key Highlights Bitcoin price looks ready to resume its climb as it bounced off the area of interest and retracement level on its long-term chart. Applying the Fibonacci extension tool shows the next upside targets. Price is approaching the 38.2% extension just past the $7000 mark while technical indicators suggest uptrend continuation. Bitcoin price is resuming its clim...


Bitcoin Price Technical Analysis for 11/14/2017 – Short-Term Downtrend, Long-Term Uptrend No Comments

Bitcoin Price Key Highlights Bitcoin price recently broke below a short-term ascending trend line and is pulling up for a retest. This broken support lines up with the 50% Fibonacci retracement level and could hold as resistance. If so, bitcoin price could resume its slide to the longer-term ascending trend line around $5000. Bitcoin price has bounced off a near-term area of interest...


Bitcoin Price Technical Analysis for 11/13/2017 – Deeper Correction Underway? No Comments

Bitcoin Price Key Highlights Bitcoin sold off sharply since breaking below the double top pattern highlighted in a previous article. Zooming out to the longer-term time frame shows that bitcoin price is still in correction mode and is testing the first Fib level. This lines up with a short-term area of interest but a deeper correction could find its way to the rising trend line on the d...


Bitcoin Price Weekly Analysis BTC USD

Bitcoin Price Weekly Analysis – BTC/USD Breaks Key Support No Comments

Key Points Bitcoin price struggled to move above the $7770 level against the US Dollar and started a downside move. There was a break below a major bullish trend line with support at $6780 on the 4-hours chart of BTC/USD (data feed from SimpleFX). The pair is now well below the $6500 level and remains in the bearish zone. Bitcoin price struggled and moved below $6500 against the US D...


Bitcoin Price Technical Analysis for 11/10/2017 – Double Top Sighted? No Comments

Bitcoin Price Key Highlights Bitcoin price had a tough time sustaining its climb after hearing news of the hard fork suspension. Price has retreated to its levels before the news broke out, creating a double top pattern. This is a classic reversal signal but bitcoin price has to break below the neckline to confirm the drop. Bitcoin price has formed a classic reversal pattern on its 4...


Bitcoin Price Technical Analysis for 11/09/2017 – Pop Higher on Hard Fork Suspension No Comments

Bitcoin Price Key Highlights Bitcoin price enjoyed additional volatility on news that the hard fork will be suspended. Price popped up to new highs at $7900 before quickly retreating. The ascending channel marked earlier is still intact, which means that bullish momentum is still present. Bitcoin price popped higher on reports that the network update will be suspended but settled bac...


Bitcoin Price Technical Analysis for 11/08/2017 – Back to Rally Mode? No Comments

Bitcoin Price Key Highlights Bitcoin price has previously broken below a short-term rising trend line to indicate a potential selloff. Price has bounced off the area of interest around $7000 as bulls were waiting to buy at that level. This could spur a retest of the broken short-term support and a continuation of the drop to the longer-term rising trend line. Bitcoin price seems to b...


Bitcoin Price Technical Analysis for 11/07/2017 – Don’t Miss This Pullback! No Comments

Bitcoin Price Key Highlights Bitcoin price is still in correction mode and looks ready to pull back to the Fibonacci retracement levels on the 4-hour time frame. Technical indicators are signaling that the uptrend could carry on once the correction is completed. Sentiment for the cryptocurrency remains positive but investors could be paring risk as exchanges are prepping for the network...


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